Theory of Incremental Advantage

Know How to Ask Intelligent Questions

Successful people distinguish themselves by the intelligent questions questions they ask. They are intrepid about asking questions when they don't understand the issues at hand. At many meetings, substantially all of the attendees sit passively and nod their heads in agreement with whatever the speaker is saying - whether or not they understand anything that is transpiring. It is the successful investor or executive will raise his hand and say, "I don't understand," or "You lost me," or "Please explain your last statement again."

Former British Prime Minister Benjamin Disraeli said, “The fool wonders. The wise man asks.” Intelligent executives ask penetrating questions that break down complex issues into manageable components. They realize that asking intelligent questions expedites intelligence gathering. They are experts in straining out all of the clutter and hidden agendas that are used to complicate, sway or sabotage the issues under review. Voltaire counseled, "Judge a man by his questions, rather than by his answers."

On the contrary, a mistake that salespeople often make is they ask questions when they don’t care about the answers. Rainmakers don’t squander sales calls with unnecessary chitchat or entertaining conversation. Asking a question to flatter the customer is a form of insincerity, and is usually transparent to the customer. Customers are more impressed by intelligent, legitimate get-to-the-problem questions than they are by a phony inquiry.

Words Boost Sales

Naming a product intelligently can boost sales. For example, most people who are not senior citizens dislike eating prunes because of their association with old age. After having been granted permission from the Food and Drug Administration, the Prune Board changed its name to the California Dried Plum Board. Subsequently, in 2001, prune / dried plum shipments jumped 14%, the first rise in six years.

Estee Lauder refrained from using the word 'perfume' and instead called the same product perfumed bath oil. This incremental variation in naming resulted in women regularly pouring the bath oil in their bath tubs rather than spraying a few drops on themselves on special occasions.

Manufactured diamonds lack clarity - one of the crucial characteristics for valuing diamonds. Initially, demand was lackluster for these clarity challenged diamonds. Then, someone came up with the brilliant idea to call these sub-optimal diamonds champaign diamonds and sales soon soared.

Naming Events Can Spur Revolutionary Ferver

The so-called Boston Massacre was an inflammatory misnomer. In March of 1770, a mob began to taunt British soldiers and pelted them with trash, oyster shells and snowballs. With their backs to the royal Customs House, and feeling hemmed in, the frightened soldiers opened fire on the mob. In all, five colonists were killed in what instantly became known as "the Boston Massacre." John Adams, the future second president of the United States, represented the British soldiers. Adams demonstrated that most of the soldiers fired in self-defense, that no order to fire on the crowd had ever been given, and that the unruly colonials had provoked the soldiers. The jury found all but two of the accused not guilty and convicted those two of lesser charges. Nevertheless, the so-called Boston Massacre rallied the colonists to fight for their independence from the British.

The Importance of Naming Yourself

Sixteenth century Spanish novelist, playright and novelist, Miguel de Cervantes Saavadra said, "A good name is worth more than riches." Just as words matter so do names, including your name. If you have a name that is extremely difficult to pronounce or impossible to spell, you might want to consider changing it. Also, if your name is not appropriate for the business that you conduct, you should not use your name when pursuing such business. For instance, it was William Emergy Nickerson, an MIT-trained chemist and inventor, who developed the machinery and technique to produce Gillette's disposable razor blades. Kimg Camp Gillette proposed naming the comany the Gillette & Nickerson safety Razor Company. "Nickerson" was dropped for its obvious suggestion of the perils of shaving that the safety razor was intended to avoid. While this tale seems funny, it took a lot of discipline and foresight for Mr. Nickerson to relinquish having his name associated with such a promising venture.

Also, don't use your middle initial. It is easier to remember one's first and last names - the use of a middle initial will just make your name harder for people to remember and will cloud your brand.

A short, simple, easy-to-remember name greatly simplifies the branding process. These Hollywood celebrities changed their names:

Allen Konigsberg became Woody Allen
Alphonso D’Abruzzo became Alan Alda
Archibald Leech became Cary Grant
Cherilyn Shakisian became Cher
Tom Mapother became Tom Cruise
Bernie Schwartz became Tony Curtis
Diane Friesen became Dyan Cannon
Margaret Hyra became Meg Ryan
Eugene Orowitz became Michael Landon
Frances Gumm became Judy Garland
Issur Danielovitch became Kirk Douglas
Maurice Micklewhite became Michael Cane
Michael Guitosi became Robert Blake
Shirley Schrift became Shelley Winters
Walter Matuschanskayasky became Walter Matthau

Churchill's Mastery of the English Language Was a Powerful Weapon

Winston Churchill was such a gifted orator that he convinced his opponents and the British public that it was necessary to fight the Nazi regime. His speeches mobilized the British and gave them the moral fervor to wage war against the Germans. He did not rest on his laurels: Churchill would spend an hour preparing for every minute of speeches he was to deliver. John Kennedy said Churchill had "marshalled the English language and sent it into battle."

Choice of Words Mattered During the Cuban Missile Crisis

When President Kennedy ordered the U.S. navy to surround Cuba and intercept Soviet freighters bound for Havana with more missiles, he used the word "quarantine" of Cuba. He avoided the term blockade, which is an act of war under international law.

Even the Most Important Presentations Should be Brief

It is instructive to note that the American president that delivered the longest Inaugural Address ended up serving the shortest term. Despite Daniel Webster having edited down his Inaugural Address (in which Daniel Webster said that he killed 17 allegorical Roman proconsuls) President William Henry Harrison delivered the longest Inaugural Address ever on March 4, 1841. Speaking in a cold and driving rain, the aged general soon came down with pneumonia. He died after just a month in office on April 4, 1841.

Leaders are Often Articulate Orators

Leaders must be able to rally their troops, communicate the company's mission throughout the organization, interview with the media and impress the financial community. One of the best coaches for improving presentation skills is Carmine Gallo. Here are some pointers for improving your presentations, some of which came from Mr. Gallo's fantastic book, 10 Simple Secrets of the World's Greatest Business Communicators:

• Circulate among the audience before the presentation begins. Spending a few minutes with the attendees will turn these strangers into allies. The process of meeting and greeting attendees will remove the veil of intimation. They will want to see you successfully deliver your presentation. When you are speaking and look out at the acquaintances you have just made, your self confidence will soar.

• Never start a speech by telling a joke.

• Speakers must be well prepared. The less speakers refer to their notes, the better received they will be by their audiences.

• In preparing speeches, speakers should ensure that their comments cover: a) What the audience needs to know? b) Why the audience should care? c) What action does the speaker want the audience to take? d) How can the audience save money? e) How can the audience make money? f) How can the audience boost its productivity? g) How can the listeners boost their visibility in their industry?

• Proper physical training is important as it leads to better posture, enables speakers to exude more energy and prepares people to handle the demands of a busy professional life. Exercise sends oxygen-rich blood to the brain. People who exercise are shown to do better on tests requiring critical thinking. If regular aerobic exercise can make you think better, then it should enable you to speak better.

• Speakers must be passionate about the topic of their speeches. The best speakers incorporate stories into their presentations.

• Words are not the only thing that matters when speaking. 55% of communications is visual (body language, eye contact); 38% is vocal (pitch, speed, volume variation); and only 7% of communication involves the actual words. According to research, the ideal voice must show emotion, be lower pitched, be moderately paced and must be free of distracting qualities.

• According to the International Journal of Instructional Media, the best speakers speak at close to 200 words a minutes. Speakers who speak faster than average are perceived to think faster than average and exude more energy and passion.

• The best speakers dress for success. People are flattered if they feel the speaker considered them important enough to look a little special for them. The best money spent is on things that create the image of success...perception creates reality. In fact, two professors from London Guildhall University found a correlation between attractiveness and career success. In a survey of eleven thousand 33-year olds, the professors found that unattractive men earned 15% less than those perceived as attractive. They even equated good looks with a higher probability of lawyers receiving early partnership.

Seemingly Meaningless Words Impact the World's Most Volatile Geographies

In the aftermath of the 1967 Six-Day War, United Nations Resolution 242 called for Israel to withdraw from territories it captured during that war. (Such withdrawal was to be negotiated upon achieving peace, and upon conditions being met from the other side which have still not materialized.) However, omission of the word “the” before territories impacts the geography of a very volatile part of the world.